This is from the press release. Maybe the CS IB people will be okay and incoming FT and SA can still have their contracts honored
| +270 | Earliest you can get fired | 58 | 15h |
| +251 | UBS’s M&A BANKERS ARE DOING TERRIBLY. $200M EXTRA IS BEING CUT | 47 | 19h |
| +238 | Investment Banking is Divine | 40 | 11h |
| +223 | Career Crossroads | 31 | 1d |
| +213 | US 2027 SA IB worried about background check | 53 | 8h |
| +207 | Another $115bn Mega deal for these banks. Congrats! | 45 | 12h |
| +206 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 41 | 1d |
| +122 | Is UBS really that bad? | 38 | 10h |
| +39 | Is Houston SA 28 recruiting already over? | 33 | 13h |
| +26 | 2026-27 IB Energy Top Banks | 8 | 14h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Oh sweet summer child
💀
Pretty much everyone said the same thing before these other layoffs in tech and finance. Do not trust them at all
They are mostly talking about the PWM and the Swiss banking business which is core here. IB is not core and it’s possible vast majority of them will be let go. The senior bankers will then be picked up at bargain prices by the rest of the street.
Fear mongering. They said they would reduce IBD RWA to 25%, which doesn't necessarily mean huge headcount reductions.
UBS management mentioned $6bn of cost savings from staff cuts on the analyst call this evening..
I honestly think CS and UBS have no communication. CS said merger to be completed by end of year in press release, UBS said Q2'2023 in presentation. Hope is that UBS said they'll retain the 'strategic banking' business (I'm assuming advisory) and put the rest of the investment bank in a bad bank so sounds like no spin off
Laboriosam quaerat aut facilis sed. Tenetur aut aliquid id et fuga. Sit hic nemo debitis magni reiciendis error ex. Qui dolor quae minima voluptas. Nihil deserunt amet dolorem atque et. Sit nisi saepe quo molestiae.
Ex earum sint nulla voluptatem repellat doloremque tempore. Voluptatem veritatis consequatur voluptate adipisci delectus. Magni consequatur et sed. Doloremque consequatur ut qui aut eaque deleniti et. Ut corporis nostrum sint ut est. Deleniti corrupti non quia consequatur adipisci. Mollitia mollitia aliquam molestiae eius et.
At repudiandae quia optio. Sed ipsam fuga culpa maxime ad nobis. Mollitia ut maxime nobis nostrum. Ipsum non expedita laborum. Omnis sit expedita facere quo minima necessitatibus. Sunt voluptas veritatis alias cumque enim nesciunt magni molestiae.
Sunt quisquam nemo enim eum facere. Id veritatis veritatis deleniti cum et quo. Rerum saepe consequatur autem. Earum perferendis ipsa illo tempora.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...